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The Current Trends of Houshould Energy Storage--IMPROVE BATTERY
August 15, 2023

The Current Trends of Houshould Energy Storage

Household energy storage trends were evolving rapidly due to advancements in technology, changing consumer preferences, and increasing interest in sustainable energy solutions.

Lithium-ion batteries had emerged as the dominant technology for household energy storage systems. These batteries are widely used in applications ranging from solar energy storage to electric vehicle charging. They offer high energy density, longer cycle life, and relatively low maintenance requirements.

Energy storage systems were incorporating smart technology, enabling homeowners to monitor and optimize their energy consumption. Smart energy management systems could predict peak energy demand, adjust energy usage patterns, and even sell excess stored energy back to the grid during high-demand periods.

As solar panels and other renewable energy sources became more accessible and affordable, homeowners were increasingly integrating them with energy storage systems. This allowed excess energy generated during sunny periods to be stored and used during cloudy days or at night, reducing dependence on the grid.

Energy Storage System

Household energy storage: the core is the solar energy storage system with battery + energy storage inverter.

Household energy storage is a necessary aid for distributed energy systems. According to application scenarios, energy storage can be divided into user side (spontaneous self-use, peak-valley spread arbitrage), power generation side (renewable energy grid-connected, reducing solar and wind curtailment), grid side (power peak regulation, frequency regulation), transmission and distribution side, and auxiliary services (5G base station backup power), etc.

The core of the household solar storage system is photovoltaic + battery + energy storage inverter.

Household energy storage and household photovoltaics are combined to form a household solar energy storage system. Including cells, energy storage inverters (bidirectional converters), component systems and other parts, a typical system is generally 5KW (component + inverter) with A set of 10KWH (energy storage battery) or 10KW+10KWH, in which the battery is the core of the energy storage system, and the cost accounts for about 45-50%; The current transformer can control charging and discharging, and convert AC to DC, and the cost accounts for about 10-15%; the component system, that is, the photovoltaic system, is used for solar power generation. This accounts for about 20-25%; the installation cost will increase from 10,000 in 2021 to about 20,000, accounting for 15-20%, The demand for household energy storage is growing rapidly, with a year-on-year increase of 56% in 2021.

According to BNEF data, the global installed capacity of energy storage in 2021 will be about 10GW/22GWh, A year-on-year increase of 84%/105%, of which the distributed energy storage installed capacity is about 2.5GW/5.6GWh, a year-on-year increase of 45%/40%. The capacity is about 1.9GW/4.4GWh, a year-on-year increase of about 53%/56%. The global household savings is booming. The main driving factors come from two aspects. One is the continuous increase in policy support, and the other is the economic drive of high returns. Tax reduction and exemption + capital subsidies provide policy support, and household electricity prices continue to rise and household storage economy improves. Countries around the world have introduced relevant policies to the energy storage installation is activated. Relevant policies can be divided into indirect tax relief and direct capital subsidies to reduce household storage installation costs.

Under the trend of rising electricity prices for overseas residents, installing household storage for self-use can save more electricity bills, so the rate of return of household storage is increasing. This will stimulate the continuous increase in installed capacity of household storage.

IMPROVE BATTERY established in 2014, is a modern enterprise engaged in research &development, production and export of lithium batteries, China Lithium Battery Supplier. Its products cover lead to lithium energy storage batteries, wall mounted home energy storage batteries, cabinet type energy storage batteries, low-speed power batteries, etc., series